Payments Dive
MARCH 10, 2020
Amid rapid changes in the cash economy and the rise in digital payments, the ATM is likewise facing challenges that have led to an evolution that will meet the demands of a new generation of customers.
Chris Skinner
MARCH 10, 2020
Some of you may know that I write a monthly column for The Banker magazine, and have been doing this for almost twenty years! But The Banker goes back way longer than my column. In fact, it began in January 1926 when the first issue was published and is now almost a century old. … The post 50 years of ranking 1000 banks appeared first on Chris Skinner's blog.
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Bank Innovation
MARCH 10, 2020
The rollout of Amazon’s cashierless checkout technology stack to other retailers could amount to a double-edged sword for payments startups offering similar tools, as it offers new opportunities to compete while adding pressure to their business models. Amazon this week announced the launch of its “Just Walk Out” technology toolkit for retailers, to help eliminate […].
Chris Skinner
MARCH 10, 2020
I’m getting really fed up of the number of research papers, videos, blogs, headlines and more screaming: “banks will die”. Sure, sure, you’ll immediately go: “but you say that all the time Chris” but, if you check back on what I’ve written, I’ve only ever said that banks will die … The post Reports of my (banks) death have been greatly exaggerated appeared first on Chris Skinner's blog.
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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
Bank Innovation
MARCH 10, 2020
European payments giant Wirecard, which has a market capitalization of more than $15 billion, is making a bet on freelance personal finance platform Xolo to increase uptake for its banking services. Xolo is a subscription-based freelance accounting and banking platform that allows freelancers to manage cash flow and legal needs. The Estonia-based company did not […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
MARCH 10, 2020
Credit Sesame has joined the growing list of digital-only banking platforms that can be called “challenger banks.” The platform, which provides credit score monitoring and personal finance advice, announced today it is launching Sesame Cash, a bank account the company will use to deepen its relationships with customers, offering tailored credit-building advice based on cash […].
PYMNTS
MARCH 10, 2020
Digital identity solutions are becoming more and more commonplace, especially as consumers grow increasingly aware of the weaknesses of authentication methods like passwords. A recent study found 32 percent of security incidents in 2019 involved phishing and 29 percent involved stolen credentials, both of which would have been much more difficult had secure digital ID systems been in place.
Bank Innovation
MARCH 10, 2020
The millions of customers using direct-to-consumer fintech solutions have come to expect robust online and mobile experiences that help them understand, track, save, and invest in their financial goals. Without the ability to easily and cost-effectively add these types of interesting fintech-like features into existing digital channels, banks run the risk of losing deposits and […].
PYMNTS
MARCH 10, 2020
Joust, a banking app in Austin, has announced it will pay users on their unpaid SXSW invoices to help them deal with the cancellation of the huge yearly festival, according to a release. Joust, which was a finalist for the 2020 SXSW Innovation Awards, said it will offer any affected users zero payment processing fees on its FDIC-insured free bank account.
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
Payments Source
MARCH 10, 2020
Contactless cards are a potential refuge for consumers who fear plastic and cash are carrying COVID-19.
PYMNTS
MARCH 10, 2020
Ant Financial , a division of China’s eCommerce giant Alibaba, has launched a three-year strategy to make its Alipay mobile app platform available to 40 million service providers so they can digitize their offerings, Alipay said in a press release on Tuesday (March 10). Alipay, the biggest payment platform worldwide, is aiming to solidify its position in China.
Bobsguide
MARCH 10, 2020
With rapid advancements in data and analytics, today’s client-facing technology (CFT) has emerged as a competitive advantage for funds. It encompasses data, analytics, projections and other critical information – all personalised for investment managers and their clients. As.
PYMNTS
MARCH 10, 2020
Will this be the year that real-time payments — and, especially, peer-to-peer (P2P) — reach critical mass in the United States? In an interview with PYMNTS, Matt Wilcox, senior vice president of payments innovation at Fiserv , said recent data points show that an increasing number of financial institutions (FIs) are determined to satisfy a real demand for real-time transactions.
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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.
BankBazaar
MARCH 10, 2020
In case you had to cancel your trip in the wake of the COVID-19 epidemic, here are ways you can judiciously use your travel fund. The WHO has now declared COVID-19 a global health emergency and is sharing daily updates on how we can tackle this rapidly-spreading disease better. Governments have followed suit by putting out travel advisories, restricting their citizens from overseas travel.
PYMNTS
MARCH 10, 2020
To allow users to borrow against their holdings, digital currency wallet and exchange company Blockchain.com unveiled a “Borrow” Service. The offering will provide loans in stablecoins that are denominated in U.S. dollars against bitcoin holdings kept in the Blockchain Wallet, Coindesk reported. Blockchain Co-Founder and CEO Peter Smith said per the report, “Institutional and retail investors have the same financial goals — grow wealth and manage risks — but the tools at their disposal are vastl
Payments Source
MARCH 10, 2020
Amazon's dominance of the smart speaker segment makes it well positioned to turn an increasingly work-from-home culture into a voice-shopping powerhouse.
PYMNTS
MARCH 10, 2020
To solve the healthcare payments puzzle — look to eCommerce. In an interview with Karen Webster, Paul Ketchel, founder and CEO of MDsave , said that online platform models could help bring together patients seeking affordable care with providers and simplify billing and payments collection along the way. The conversation came against the backdrop, of course, where markets are roiling, there’s talk of recession, and no doubt the health of the consumer is top of mind.
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
Payments Source
MARCH 10, 2020
Alipay, the mobile payment app owned by billionaire Jack Ma, is stepping up its competition with WeChat to get more of its 900 million users to tap expanded services in everything from real estate purchases to restaurant and cinema bookings.
PYMNTS
MARCH 10, 2020
In today’s top payment news, retail remains a bright spot in the markets, Ant Financial has rolled out a strategy for digital evolution in China, and the Consumer Financial Protection Bureau (CFPB) filed a suit against a Cincinnati-based bank. Payments Stocks Plummet While Retail Remains A Bright Spot. The stock market rout on Monday (March 9) left pretty much no one unaffected.
Payments Source
MARCH 10, 2020
Artificial intelligence has given merchants and banks handling payment data a fighting chance against fraud because it essentially pits machine against machine in compiling data and establishing prevention algorithms.
PYMNTS
MARCH 10, 2020
The small business credit gap is a global issue, a problem that banks and FinTechs continue to hack away at, yet one that remains stubbornly persistent. In markets like Southeast Asia, high rates of credit-invisible, underbanked small businesses make filling the small business credit gap an even more difficult challenge. At the root of the matter is often a lack of predictive data to ascertain the creditworthiness of these small- to medium-sized businesses (SMBs).
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Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.
Banking Exchange
MARCH 10, 2020
Financial institutions should ensure adequate pandemic planning is in place as a supplement to a BCP Risk Management Feature Human Resources Management Duties Feature3.
PYMNTS
MARCH 10, 2020
To make sure its retail staffers are healthy, Apple is giving its hourly employees, with the inclusion of retail workers, unlimited sick leave if they experience coronavirus symptoms, 9to5Mac reported. The tech company’s retail workers reportedly don’t have to send in a doctor’s note for their time away from work. As a result, they can take off the necessary time from work without the concern of giving management a note or running out of sick time.
Banking Exchange
MARCH 10, 2020
5G will redefine our expectations for “normal” with all things wireless Technology Tech Management Mobile Feature Financial Trends People Feature3.
PYMNTS
MARCH 10, 2020
In response to the COVID-19 outbreak, three Seattle entrepreneurs have created a wristband that vibrates when the person wearing it goes to touch their face, artificial intelligence (AI) startup Immutouch announced on Tuesday (March 10). Along with hand-washing, medical professionals are advising the public to avoid touching the eyes, nose and mouth during the worldwide outbreak.
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
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